Contrary to general consensus, Vodfaone Idea (VIL) informed that the board has approved conversion of interest on delayed payment of spectrum and Adjusted Gross Revenues (AGR) dues to the Government into equity. Key points to note The option was available to the Company in line with the telecom relief package announced by the Government in … Read more
TCS has informed that it would be considering buyback of it’s shares on January 12, 2021 along with the 3rd quarter results. Key points to note – Other than the general intimation that the board will consider buyback on January 12th, the Company has not provided any further details. This is the 4th buyback that … Read more
The Company’s board is scheduled to meet on December 28, 2021 to take the decision. Key points to note – This is 3rd year in a row. Previous ones being Jan-Mar 2019 and Nov-Dec 2020. Jan – Mar 2019: Rs 100 crore at Rs 1,300 per share as against the then prevailing price of around … Read more
As per newspaper reports, the promoter Sameer Gehlaut has mandated Jefferies to sell the stake through the block deals. Key points to note – As at September end, promoter group owned 21.69% of Indiabulls Housing Finance Limited (IBHFL). Post this stake sale promoters will be left with less than 10% stake. Of the balance, currently … Read more
It’s enhanced stake now stands at 44.16%. Key points to note – The stake has been bought from PAG – world’s largest Asia focused investment groups. PAG still continues to hold the majority at 55.84%. Edelweiss has paid Rs 230 crore for this stake purchase. This is at the same valuation when PAG had picked … Read more
LIC had sought the approval as per the regulatory requirement – The RBI norms mandate that every person or an entity who intends to make an acquisition in Private Banks of more than 5% stake, prior approval is needed from the Central Bank. Key points to note – LIC currently owns 4.95% in IndusInd. Approval … Read more
The Company has called for an extraordinary general meeting (EGM) on 30 December, seeking approval to amend it’s Articles of Association (AoA) and remove restrictions on promoter share transfer. Key points to note – Indigo has two founders – Rahul Bhatia and Rakesh Gangwal Bhatia group owns 37.83% stake of Indigo and Gangwal group 36.61% … Read more
The Company’s board approves to go for IPO of JK Files & Engineering Limited (JKFE). Key points to note – JKFE is into steel files and tools business. The proposed IPO is of Rs 800 crore and is entirely offer for sale. No fresh money is expected to come into the Company. Raymond currently owns … Read more
LIC had sought the approval as per the regulatory requirement – The RBI norms mandate that every person or an entity who intends to make an acquisition in Private Banks of more than 5% stake, prior approval is needed from the Central Bank. Key points to note – LIC currently owns 4.96% in Kotak Mahindra … Read more